Dogecoin Could Reduce Carbon Footprint By 25 Percent By 2022

Dogecoin is the only memecoin in 2022 that proactively reduces its carbon footprint. (photo: twitter @dogecoin)

JAKARTA - Research shows that Dogecoin is the only memecoin in 2022 to proactively reduce its carbon footprint, a key metric for mainstream adoption, by 25% in one year. This is thanks to the intervention of the developer and CEO of Tesla, Elon Musk.

One of the main reasons why Musk has backtracked on accepting Bitcoin to pay for Tesla is its high carbon emissions. At the time, he believed that Dogecoin, “despite being made up as a silly joke”, was actually more suitable for transactions.

Due to the proactive efforts of Musk and members of the Dogecoin ecosystem, Dogecoin has experienced a 25% reduction in its annual CO2 emissions. According to research from Forex Suggest, with 1.423 tons of emissions issued in 2021, Dogecoin generated 1.063 tons in 2022.

While Ethereum experienced the largest reduction in CO2 emissions in 2022 after switching to a proof-of-stake consensus mechanism, its annual emissions surpassed Dogecoin by 8.3 times.

Reduced carbon footprint and massive community support position Dogecoin as a viable financial instrument in 2023.

When it comes to year-long price performance amidst the 2022 bear market, DOGE is holding up much better than most of the top assets in the crypto market.

Memecoin emerges as the third best performer in the top 10 list after XRP and BNB. DOGE is also outperforming its biggest competitor, the Shiba Inu, as the SHIB community focuses on building layer-2 networks and developing metaverse and blockchain games.